GOVT. CLEARS SUGAR EXPORT TO US, EU

The Govt. has allowed export of 26,000 tonnes of raw sugar to the US and European Union. While 16,000 tonnes of raw sugar would be sent to EU nations, the remaining would be exported to the US under preferential raw cane sugar tariff rate quota, according to a notification issued by the Director General of Foreign Trade (DGFT). Indian Sugar Exim Corporation Ltd. (ISEC) will be the designated agency for undertaking these exports under preferential quota, it said (BUSINESS LINE 19-05-2007)

ISEC SEEKS BID FOR RAW SUGAR

The Indian Sugar Exim Corporation Ltd. (ISEC) has invited bids from European trade houses for raw sugar trade sources said. They are having discussions with the wider market to seek more opportunities for their sugar, one trade source said. The tonnage was not specified. A senior ISEC official told Reuters in New Delhi that the company had held talks with international trade houses on the terms for sale of raw sugar. We discussed with international trading houses if we want to sell raw sugar what would be their terms and conditions, the official said. (BUSINESS LINE 04-06-2007)